BREAKING: Ford will split its fast-growing electric vehicle operations from its legacy combustion engine business in a historic reorganization trib.al/KnFp8xr
The newly formed Ford Model e unit will scale up the automaker’s EV offerings and develop software and connected-vehicle technology and services for all of the company.
Ford Blue will focus on combustion vehicles, cutting costs and simplifying operations bloom.bg/3CaOauz
Ford says it will make 2 million EVs annually by 2026, building on its plan to manufacture 600,000 a year by 2024 bloom.bg/3CaOauz
“We are going all in, creating separate but complementary businesses that give us start-up speed and unbridled innovation,” Ford CEO Jim Farley says in a statement bloom.bg/3CaOauz
CEO Jim Farley has been working closely with Doug Field, the former head of Apple's car project, on reviewing Ford’s operational and manufacturing structure to prepare for the company ramping up its EV offerings bloom.bg/3CaOauz
Ford’s shake-up—along with new targets for higher EV production and overall profitability—sent shares up as much as 5.4% to $17.60 before the start of regular trading bloom.bg/3CaOauz
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.